Argentina is experiencing record exports from its growing lithium industry, which hit $60m in May and increased by 17% compared to the last year’s numbers, as per the country's mining authority. The mining sector in Argentina reports that lithium accounted for 19% of mining exports during May. With three active lithium mines and 38 under development, Argentina has outpaced the global race for essential EV minerals between China and the US. The country's lithium exports between January and May 2021 amounted to $369m, an 84% increase from the same period last year and a record high.
The push into the lithium industry has had tangible outcomes in employment as well. By February 2021, Argentina's lithium industry employed 3,788 people, which was a 59% increase over the previous year. The latest data has revealed that the industry added 1,406 new posts, highlighting the significant impact of the lithium industry on the domestic labour market.
Argentina has the potential to become a dominant player in the global battery industry, given its vast natural resources, which are conducive to lithium production. It is expected that production would continue to grow in the years to come. Moreover, there is also a possibility that the country may also start manufacturing lithium batteries as it has a competitive advantage in this sector.